Senators File For Bankruptcy

Published: January 10, 2003

The Ottawa Senators filed for bankruptcy yesterday, seeking protection from creditors while they look for a buyer.

The filing under Canada's federal Companies' Creditors Arrangement Act allows the Senators, who are in first place, to keep playing during any negotiations on a sale, Rod Bryden, the owner, said at a news conference. He said he was working with a potential partner on a bid to buy the team and the Corel Center, where it plays.

The filing gives Bryden until next Tuesday to submit a bid, he said. If it is rejected or he fails to do so, a broader marketing plan will seek other buyers.